On Feb. 4 when Congress finally passed the long-debated farm bill, it included a provision legalizing the cultivation of hemp under certain circumstance that literally electrified marijuana penny stocks. Hemp Inc.’s (OTCPINK:HEMP - News) stock volume shot through the roof like a geyser Feb. 5, 2014 on news that Congress legalized the cultivation of hemp. The Las Vegas-based company with hemp as its namesake is developing and selling a wide portfolio of products made from industrial. It saw its stock volume soar to 195,450,288 shares, more than 4.2 times its three-month average volume of 45,550,489 shares. Hemp’s share value closed at 30 cents, up 4 cents, or 14.6%, from its close of 26 cent the previous day. Slow, Cautious Process

The new farm bill will allow universities and state agriculture departments to create industrial hemp growing programs. However, it only applies to states where industrial hemp farming is already legal under state law. These 10 states include Colorado, Washington, California, Kentucky, Maine, Montana, North Dakota, Oregon, Vermont and West Virginia.

If these research programs are fruitful, they could open the door for commercial hemp farming. According to the Associated Press, the US imported about $11.5 million in hemp products in 2011.

Good News for Hemp Hemp stands to benefit greatly in the long run from such legalization because of the variety and strength of its cannabis-related products. The company is developing a myriad of products made from industrial hemp, including fabric, paper, insulation, plastics, cooking oil and even salad dressings. And now, it is developing vaporizers. New Line of Vaporizer Products On Jan. 28, VaporBrands International, Inc. (OTC Pink: VAPR) announced it has entered into a Letter of Intent to form a joint venture with Marijuana, Inc., a wholly owned subsidiary of Hemp.

Under terms of the proposed joint venture, Marijuana, Inc. will assist VaporBrands with the development and distribution of specialized marijuana vaporizing products to be sold primarily through existing medical marijuana dispensary networks.

In addition, VaporBrands and Marijuana, Inc. have agreed to research, develop and distribute vaporizer products specifically for the use of Hemp Oil in natural medicine. Marijuana, Inc. has also agreed to assist VaporBrands in expanding the retail distribution of its current and future electronic nicotine based cigarette products.

This latest move by HEMP through its subsidiary certainly strengthens its position in the marketplace. It also filled a much needed gap in its vertical offerings. While it’s too soon to measure how this will affect HEMP’s overall revenue, no one can deny it is a positive development – especially in light of the new farm bill.

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Supplies Equipment for Cannabis Growers Another marijuana penny stock that’s stock volume skyrocketed on news of hemp legalization is Growlife Inc. (OTCBB:PHOT - News), a Woodland Hills, Calif. holding company. On Feb. 5 it traded 84,178,506 shares, nearly 2.5 times its three-month average volume of 34,710,832. On Feb. 5 PHOT shares closed at 39 cents unchanged from its closing price the previous day. Growlife is strongly positioning itself by developing various markets and deploying new products and services for the legal cannabis industry. For example, one of its recently acquired companies makes hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment. The company appears to be vigorously considering every possible angle and service to capture its piece of the legal cannabis pie.

On Jan. 31, Growlife announced that it had entered into a strategic partnership with RXNB Inc. Growlife entered into an agreement to purchase a 40% equity stake in RXNB Inc. To sell and distribute RXNB proprietary technologies globally and share profits related to technology licensing, subject to the approval of the GrowLife board. GrowLife currently has a 45% ownership interest in OGI, with conditions under which it can gain majority interest.

RXNB is an investment company with holdings in drug formulation, manufacturing, and distribution. The company represents a recent roll-up of several independent companies in the pharmaceutical and nutraceutical market. RXNB has numerous pending patents in the field of THC research and development. RXNB has a portfolio valuation of $110 million dollars and approximately $27.5 million dollars in annual revenue.

Could Become Strong Asset

While this certainly seems like a strong positioning move by Growlife, and it’s nice to know that the company it has just acquired a 40% equity share in has revenue of 27.5 million, we don’t have any idea if the company has earned any profits. So again, we must wait for more thorough info before getting too excited about Growlife’s latest moves.

Find out what could be the best investor’s move when it comes to PHOT by getting the complete report here, or by cutting and pasting the following link in your Web browser:

The positive news on hemp legalization also pushed Cannabis Science Inc. (NASDAQ OTC: CBIS) stock volume to Stratospheric heights, with 86,127,769 shares changing hands, 3.7 times more than its three-month average of 23,014,136 shares.

It also validated the company’s ongoing lobbying effort.

Cannabis Science has been lobbying hard for the decriminalization of cannabis research, which is definitely makes it a player that is serious about developing products in a timely and safe fashion.

Lobbying Hard to Make Cannabis Research Possible

The company's government relations team lead, Rick Blake, is working with the U.S. House of Representatives' Cannabis Caucus to ensure that President Obama signs an Executive Order to decriminalize cannabis research. This is one of the bipartisan initiatives of the members of the Cannabis Caucus being facilitated by Cannabis Science. In contrast to many other countries Cannabis Science believes the regulatory landscape of the United States creates unreasonable restrictions on the ability of scientists and physicians to explore promising patient-driven research involving cannabis and cannabinoids.

“Thousands of patients are awaiting the President's action to set cannabis research free,” said Director and CEO of Cannabis Science Dorothy Bray, in a Jan. 29 written statement.

The Colorado company that is developing cannabis-based medicines announced on Jan. 16 that it is spearheading an observational clinical research study in 2014 focusing on the use of cannabis and cannabis-based products to treat a variety of medical conditions.

“We will work with full authorization of the regulatory authorities and, most importantly, with the approval from patients,” said Cannabis Science President Robert Melamede.

Selling Equipment in Canada and Abroad

On Feb 3, Cannabis Science also announced it would be partnering with MDS, a subsidiary of Medbox, Inc. to sell and distribute equipment to be used in the medical-marijuana industry. Under the terms of the agreement Cannabis Science has a 50/50 gross profit exclusive on any and all MDS equipment sales in Canada and other select markets, according to the release Both Cannabis Science and MDS have multiple opportunities in Canada based on recent developments with medical cannabis in that market. Other countries will follow pursuant to the agreement as Cannabis Science moves forward aggressively in Europe and South America.

CBIS share price closed at 29 cents on Feb. 5, up 7 cents from its closing price of 22 cents the previous day.

Find out what could be the best investor’s move when it comes to CBIS by getting the complete report here, or by cutting and pasting the following link in your Web browser:

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